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Sensex opens higher despite weak macro data

Press Trust of India  |  Mumbai 

The benchmark rose over 53 points in early trade today despite disappointing macroeconomic data.

The 30-share barometer, which had gained 289.52 points in the previous session, was trading higher by 53.21 points, or 0.14 per cent, at 35,589, with realty, oil and gas, healthcare, PSU, and capital goods stocks leading the gains.

On similar lines, the NSE Nifty went up by 15.55 points, or 0.14 per cent, to 10,822.05.

Industrial output growth fell to a five-month low of 4.4 per cent in March due to a decline in capital goods production and deceleration in activity and power generation, according to official data released after market hours on Friday.

Inflation data will be released later today.

A firm trend at other Asian markets following positive leads from Wall Street and unabated buying by domestic institutional investors (DIIs) supported the gains, brokers said.

bought shares worth a net Rs 1,163.35 crore, while foreign portfolio investors (FPIs) sold shares to the tune of Rs 325.44 crore on Friday, as per provisional data.

On the political front, most exit polls indicated a tight race between the BJP and in Karnataka, where assembly elections were held on Saturday.

Major gainers were Sun Pharma, Dr Reddy's, HDFC Bank, Axis Bank, Wipro, IndusInd Bank, Tata Steel, ITC Ltd, Hero MotoCorp, SBI and HUL, rising up to 1.83 per cent.

Globally, Hong Kong's Hang Seng was up 1.29 per cent, Shanghai's Composite index rose 0.55 per cent, while Japan's Nikkei gained 0.24 per cent in early trade.

The US Dow Jones Industrial Average ended 0.37 per cent higher on Friday.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 14 2018. 10:05 IST
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